1211/2017 Problem 7-4A (Part Level Submission) *Problem 7-4A (Part Level Submiss

Question

1211/2017 Problem 7-4A (Part Level Submission) *Problem 7-4A (Part Level Submission) The bank portion of the bank reconciliation for Blossom Company at October 31, 2017, is shown below BLOSSOM COMPANY Bank Reconciliation October 31, 2017 $12,687.90 1,530.20 14,218.10 Cash balance per bank Add: Deposits in transit Less: Outstanding checks Check Number 2451 2470 2471 2472 2474 Adjusted cash balance per bank Check Amount 1,260.40 684.20 844.50 429.75 1,050.00 4,268.85 $9,949.25 The adjusted cash balance per bank agreed with the cash balance per books at October 31, The November bank statement showed the following checks and deposits. Bank Statement Checks Deposits Date Date Number Amount 11-1 11-2 11-5 11-4 11-8 11-10 2477 11-15 2479 11-18 2480 11-27 2481 11-30 2483 11-29 2486 Amount 2470 2471 2474 2475 2476 684.20 111 1,530.20 1,211.60 990.10 11-13 2,575.00 2,830.00 11-18 1,472.70 11-21 2,945.00 11-25 2,567.30 11-28 1,650.00 11-30 1,186.00 Tota 16,127.90 844.50 1,050.00 1,640.70 11-4 11-8 600.00 1,730.00 1,330.00 695.40 575.50 940.00 Total $12,920.30 The cash records per books for November showed the following Cash Payments Journal Cash Receipts Joumal https:lledugen.wileyplus.com edugenisharedfassignmenties gprint.uni 1/3

Explanation / Answer

Bank Reconciliation Report is as prepared below:

Blossom Company Bank Reconciliation Nov-30 Particulars Amount ($) Amount ($) Balance as per bank 18,154.55 Add: Deposit in transit 1,624.00 19,778.55 Less: outstanding checks: 2451 1,260.40 2472 429.75 2478 538.2 2482 612 2484 826.55 2485 974.8 2487 398 2488 800 5,839.70 Adjusted cash balance per bank 13938.85 Cash balance as per books 11,715.80 Add: EFT fund transfer 2,347 Less: Additional printing check Check 87.95 Error in recording check number 2479 27 Error in Deposit 9 Adjusted cash balance as per books 13,938.85

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